Supply chain is one of 20 hot jobs for the 21st-century. And it's also one of the most growing, with demand for workers in the field expected to increase 13% by 2028.
The digitalization of the industry has made it more important than ever to have specialized skills for this rapidly evolving career path, and Masters in Supply Chain Management are becoming a popular choice for graduates looking to take their career to the next level. These programs can be done part-time by working professionals. This keeps the cost of education low.
A master’s degree in Supply Chain Management is a great preparation for a career in the field of supply chain management. Globalization is one of the key benefits in this field, and companies are always looking to hire supply chain managers.
A wide variety of schools offer degrees on supply chain management. Some require a Bachelor's Degree in Business, while other schools allow non-business majors to enroll. Admission requirements can vary. Most require two years' work experience, and some may also require GMAT or GRE scores.
University of Alabama offers an accredited online supply chain management degree that is designed for working professionals. The courses are taught online by experts in the field. The program offers affordable tuition and is accredited by Accredited Council for Business Schools and Programs.
Kettering University offers an affordable and online master's in supply chain management, as well. This 30-credit program is AACSB-accredited and U.S. News and World Report has recognized it as a nationally recognized program.
The program offers students a choice of three interdisciplinary concentrations. It also includes an internship which gives students the chance to apply theoretical knowledge in real world situations.
MIT SCM is the #1 Supply Chain Management graduate program in the world.
In recent years, a number of top business schools have jumped in the supply chain arena, including Harvard which is ranked the top MBA program by US News, and MIT which is ranked the top Supply Chain Management Program on the QS World Rankings.
MIT SCM has a strong history of innovation, and is a leader of research and education in supply chain. Its Supply Chain Management Center focuses on the development of 21st Century best practices for logistics.
Jindal faculty members are using a combination research and real-world experience to address supply chain problems. Professor Ozalp Ozer of the JSOM, for instance, has created a way to encourage voluntary reporting of environmentally hazardous incidents, and make it easier for law enforcement agencies, as well as businesses.
Other schools in our list also offer graduate degree programs, including the University of Alabama mentioned above and Kettering University. Some of these programs require that you have a Bachelor's Degree in Supply Chain Management or a similar discipline. Others are open to applicants who have an undergraduate education and have at least 5 years of experience.
FAQ
Why is logistics important for manufacturing?
Logistics are essential to any business. They help you achieve great results by helping you manage all aspects of product flow, from raw materials to finished goods.
Logistics also play a major role in reducing costs and increasing efficiency.
What are the products of logistics?
Logistics involves the transportation of goods from point A and point B.
They include all aspects associated with transport including packaging, loading transporting, unloading storage, warehousing inventory management customer service, distribution returns and recycling.
Logisticians make sure that the right product arrives at the right place at the correct time and in safe conditions. They provide information on demand forecasts as well stock levels, production schedules and availability of raw material.
They monitor shipments in transit, ensure quality standards, manage inventories, replenish orders, coordinate with suppliers and other vendors, and offer support services for sales, marketing, and customer service.
What does "warehouse" mean?
Warehouses and storage facilities are where goods are kept before being sold. You can have it indoors or outdoors. In some cases it could be both indoors and outdoors.
How can manufacturing overproduction be reduced?
It is essential to find better ways to manage inventory to reduce overproduction. This would reduce the time spent on unproductive activities like purchasing, storing and maintaining excess stock. By doing this, we could free up resources for other productive tasks.
This can be done by using a Kanban system. A Kanban board can be used to monitor work progress. A Kanban system allows work items to move through several states before reaching their final destination. Each state represents an individual priority level.
If work is moving from one stage to the other, then the current task can be completed and moved on to the next. But if a task remains in the beginning stages it will stay that way until it reaches its end.
This allows work to move forward and ensures that no work is missed. A Kanban board allows managers to monitor how much work is being completed at any given moment. This information allows managers to adjust their workflow based off real-time data.
Lean manufacturing is another way to manage inventory levels. Lean manufacturing works to eliminate waste throughout every stage of the production chain. Anything that does nothing to add value to a product is waste. Some common types of waste include:
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Overproduction
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Inventory
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Unnecessary packaging
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Exceed materials
These ideas can help manufacturers improve efficiency and reduce costs.
Statistics
- According to the United Nations Industrial Development Organization (UNIDO), China is the top manufacturer worldwide by 2019 output, producing 28.7% of the total global manufacturing output, followed by the United States, Japan, Germany, and India.[52][53] (en.wikipedia.org)
- Many factories witnessed a 30% increase in output due to the shift to electric motors. (en.wikipedia.org)
- (2:04) MTO is a production technique wherein products are customized according to customer specifications, and production only starts after an order is received. (oracle.com)
- Job #1 is delivering the ordered product according to specifications: color, size, brand, and quantity. (netsuite.com)
- In the United States, for example, manufacturing makes up 15% of the economic output. (twi-global.com)
External Links
How To
How to use the Just In-Time Production Method
Just-intime (JIT), which is a method to minimize costs and maximize efficiency in business process, is one way. It's the process of obtaining the right amount and timing of resources when you need them. This means that your only pay for the resources you actually use. Frederick Taylor was the first to coin this term. He developed it while working as a foreman during the early 1900s. He saw how overtime was paid to workers for work that was delayed. He realized that workers should have enough time to complete their jobs before they begin work. This would help increase productivity.
JIT is about planning ahead. You should have all the necessary resources ready to go so that you don’t waste money. It is important to look at your entire project from beginning to end and ensure that you have enough resources to handle any issues that may arise. You'll be prepared to handle any potential problems if you know in advance. This way you won't be spending more on things that aren’t really needed.
There are many JIT methods.
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Demand-driven: This is a type of JIT where you order the parts/materials needed for your project regularly. This will let you track the amount of material left over after you've used it. It will also allow you to predict how long it takes to produce more.
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Inventory-based : You can stock the materials you need in advance. This allows one to predict how much they will sell.
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Project-driven : This is a method where you make sure that enough money is set aside to pay the project's cost. If you know the amount you require, you can buy the materials you need.
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Resource-based JIT : This is probably the most popular type of JIT. Here you can allocate certain resources based purely on demand. For instance, if you have a lot of orders coming in, you'll assign more people to handle them. If you don’t have many orders you will assign less people to the work.
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Cost-based: This is a similar approach to resource-based but you are not only concerned with how many people you have, but also how much each one costs.
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Price-based: This is similar to cost-based but instead of looking at individual workers' salaries, you look at the total company price.
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Material-based - This is a variant of cost-based. But instead of looking at the total company cost, you focus on how much raw material you spend per year.
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Time-based JIT: A variation on resource-based JIT. Instead of focusing on how much each employee costs, you focus on how long it takes to complete the project.
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Quality-based: This is yet another variation of resource-based JIT. Instead of worrying about the costs of each employee or how long it takes for something to be made, you should think about how quality your product is.
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Value-based JIT : This is the newest type of JIT. You don't worry about whether the products work or if they meet customer expectations. Instead, your focus is on the value you bring to the market.
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Stock-based. This method is inventory-based and focuses only on the actual production at any given point. It's used when you want to maximize production while minimizing inventory.
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Just-in-time planning (JIT): This is a combination JIT and supply-chain management. It's the process of scheduling delivery of components immediately after they are ordered. It's important as it reduces leadtimes and increases throughput.